Category: Industry
Leasing Strength
Feb 02, 2011 (LBO) – Sri Lanka’s Fitch Ratings has today confirmed Sri Lanka’s People’s Leasing Company’s long term rating of ‘A(lka)’ with a stable outlook on its potential support from its parent, state-run People’s Bank which is rated ‘AA-(lka)’. Fitch said PLC carries out the incremental leasing business of People’s Bank’s leasing business which […]
Upgraded
Feb 01, 2011 (LBO) – Sri Lanka’s People’s Leasing Finance (PLF), a unit of Peoples Leasing Company by one notch to ‘BBB(lka)’ with a stable outlook, on expected support from its ‘A(lka)’ parent which owns 93 percent of the firm. Fitch said support from the parent was now “more likely” than in the past as […]
Cement Rating
Feb 01, 2011 (LBO) – Sri Lanka’s Tokyo Cement Company (Lanka) Ltd has been rated ‘A’ by Ram Ratings on its strong market position and balance sheet against its dependency on the cyclicality of construction and government price controls. The long term rating has a ‘stable’ outlook. The firm’s short term credit has been rate […]
Tech Focus
Jan 31, 2011 (LBO) – Sri Lanka’s dominant mobile phone operator Dialog Axiata has set up a fully-owned subsidiary to handle information technology-enabled services, according to a company statement. Dialog said in a stock exchange filing the new unit is called Dialog Business Services and will carry out IT-enabled services. The subsidiary DBS is dormant […]
Different Roads
Jan 31, 2011 (LBO) – Sri Lanka’s People’s Merchant Bank will not take over the assets and liabilities of a finance company whose shares it has acquired but will keep it separate and list in the stock market. PMB, a listed company said in a stock exchange filing that the decision was taken following instructions […]
ICC rejects Eden Gardens World Cup plea
NEW DELHI, January 29, 2011 (AFP) – The International Cricket Council on Saturday rejected a request to keep Eden Gardens in Kolkata as the venue for next month’s World Cup clash between India and England. The ICC sparked a logistical nightmare for organisers on Thursday by asking for an alternative stadium for the February 27 […]
Sri Lanka rural power gets ADB financing
Jan 29, 2011 (LBO) – Sri Lanka’s power utility will get a 120 million US dollars loan from the Asian Development Bank to expand its distribution network to rural areas which are not served by the grid, the lender has said. The government will put in 42 million US dollars for the project which will […]
Sri Lanka lose $125,000 on Windies series
January 29, 2011 (AFP) – Sri Lanka Cricket on Saturday said it had lost $125,000 after bad weather forced a one-day series against the visiting West Indies to be rescheduled. The series was due to be played in December but has been postponed to this month and early February, and reduced from five matches to […]
‘s second Shangri-La project in Hambantota
Jan 29, 2010 – (LBO) – Sri Lanka’s second hotel project by Hong Kong based Shangri-La group will be built in Hambantota in the south of the island, an official of the island’s investment promotion agency said. Board of Investment (BOI) director Duminda Ariyasinghe said the hotel will be built on private land which the […]
Stock Carrots
Jan 28, 2011 (LBO) – Sri Lanka’s Sampath Bank said it intended to give stock options of up to three million shares to employees as a performance incentive if the bank reaches as yet undisclosed performance for 2011. The shares issued under the option plan would be 2.0 percent of the existing shares and will […]
New Cranes
Jan 28, 2011 (LBO) – Sri Lanka’s state run container terminal in Colombo port will get three gantry cranes and six transfer cranes from China in February which will be up and running by March, an official said. Sri Lanka Ports Authority chairman Priyath Bandu Wickrema said a team from the port is now in […]
Video Call
Jan 28, 2011 (LBO) – Sri Lanka’s Microsoft say a new product, Lync 2010, that offers audio, video and web conferencing will help companies cut cost by reducing travel and communication costs. The software is a single platform that integrates instant messaging, presence, audio, video and web conferencing to bring people together in the ways […]